EIT Climate-KIC supported Ÿnsect raises €110 million, becoming global leader in alternative protein

Ÿnsect announced yesterday that it has raised €110 million through a variety of investors based in France, Belgium, the United Kingdom, Hong Kong and Singapore. The EIT Climate-KIC supported company manufactures insect products used to make pet food, as well as ingredients for aquaculture and plants.

The significant injection of funding has been labelled the largest ever agri-tech investment outside the United States and represents a major opportunity to shift food systems in a way which triggers significant change in the way the global economy sources protein. 

The amount raised will be used to scale up production by building the world’s biggest insect farm in Amiens Metropole, Northern France and support international development.

Ÿnsect was selected via CleanTech Open France and joined EIT Climate-KIC’s Accelerator programme in 2015, entering at the Stage 3 part of the process. This stage allows businesses to get ready for launch through finding customers, development partners or investors. In this final stage, EIT Climate-KIC provided venture development services and €50,000 in financial support.

Thanh-Tam Le, Director, Mediterranean at EIT Climate-KIC, said:

“EIT Climate-KIC is delighted to call attention to the news that Ÿnsect, a 2014 laureate of its French venture competition and of CleanTech Open France, accelerated by Climate-KIC and Ecosys Group, has raised a record $125m to become a world leader in sustainable, premium natural ingredients for animal nutrition. In the context of growing concern about the pace of change to address greenhouse gas emissions and the urgent need for game-changing, sustainable alternatives to high impact value chains like animal and fish feed, this is an important signal of investment appetite and the role that innovative solutions can play in accelerating the pace of change.”

Ÿnsect has a focus on aquaculture due to its role in human nutrition and its increasing growth as a source of protein. Farmed fish, the source of half of the fish we eat today, relies on fishmeal which is in crisis. Reacting to this Ÿnsect decided to focus its attention on the Molitor – small common beetles known as mealworms. Molitor can be raised at a large scale and is a species able to provide sustainable and premium nutrition for animals. 

“By offering an insect protein alternative to traditional animal and fish-based feed sources, Ÿnsect can help offset the growing competition for ocean fish stock required to feed two billion more people by 2050, while alleviating fish, water and soil depletion, as well as agriculture’s staggering 25 per cent share of global greenhouse gas emissions,” said Antoine Hubert, Ÿnsect CEO & Chairman, yesterday. “Our goal is simply to give insects back their natural place in the food chain.”

Ÿnsect views their work as tapping into “natural goodness of insects at mass-market scale to help create a sustainable food system and meet the rising demands of global protein consumption.” With the latter predicted to grow by 52 per cent between 2007 and 2030, a market clearly exists.

Greenhouse gas emissions related to the agriculture industry are staggering with some estimates referring to a 25 per cent share of global emissions. EIT Climate-KIC’s newly released Transformation, in time – EIT Climate-KIC strategy 2019-2022 focuses on the need to catalyse systemic change through innovation and changes such as those related to our diets.

Such an innovative approach to sustainable food systems has clearly led to the success of yesterday’s funding announcement on a significant scale. This innovative approach also reflects EIT Climate-KIC’s new 2019 to 2022 strategy with its primary mission to “catalyse systemic change through innovation in areas of human activity”. This, we believe, will test assumptions, experiment with possibilities, shift mindsets and behaviour, and find pathways to change.

To find out more about similar start-up investment opportunities check out EIT Climate-KIC’s Investor Marketplace:

Visit the Investor Marketplace

 

About Ÿnsect

Ÿnsect is a young French company that leads the global field in farming insects and turning them into premium, high-value ingredients. Founded in 2011, it aims to make insects a major, first-class ingredient in feed for pets, fish and plants, such as ŸnMeal proteins, that offer significant health benefits through state-of-the-art industrial facilities attuned to natural ecosystems, offering a natural, long-term solution to growing global demand for protein. The company draws on pioneering proprietary technology protected by 25 patents to develop ‘farm hills’ (Fermilières®), which are low-footprint vertical farms used for Molitor breeding. Since its inception, Ÿnsect has attracted investment of more than $175 million. It now employs 105 people in France and runs a demo unit in France that has been operating since 2016. www.ynsect.com   

 
Location
France
Related Focus Area
Sustainable Land Use
Related Goal
Goal 5: Reform food systems
Articles you may be interested in
In The News
Global call for transformative solutions to tackle the climate emergency

EIT Climate-KIC launches Climathon Global Awards and Healthy, Clean...

Global call for transformative solutions to tackle the climate emergency
In The News
EIT Climate-KIC innovators celebrated at 2019 EIT Awards

The European Institute of Innovation and Technology (EIT) has...

EIT Climate-KIC innovators celebrated at 2019 EIT Awards
Opinion
Part three: Climate action #NotinNewYork
Andy Kerr Director, UK & Ireland, EIT Climate-KIC
Part three: Climate action #NotinNewYork
In Detail
New EIT Climate-KIC supported report finds digital technologies can vastly a...

As part of the UN Climate Action Summit, the Global Enabling Sustainability Initiative (GeSI) and Deloitte launched a report today, supported by EIT Climate-KIC,...

New EIT Climate-KIC supported report finds digital technologies can vastly accelerate the SDGs
Opinion
Part two: Climate action #NotinNewYork
Andy Kerr Director, UK & Ireland, EIT Climate-KIC
Part two: Climate action #NotinNewYork
Opinion
Climate action #NotinNewYork
Andy Kerr Director, UK & Ireland, EIT Climate-KIC
Climate action #NotinNewYork
In The News
Circular Cars Initiative launched at United Nations Climate Action Summit

On the occasion of the United Nations Climate Action...

Circular Cars Initiative launched at United Nations Climate Action Summit
In The News
We’re closing for business in solidarity with #ClimateStrike

EIT Climate-KIC will close this Friday 20 September, the...

We’re closing for business in solidarity with #ClimateStrike
In The News
Open Innovation Call targeting air quality and urban heat island effect launch...

The City of Copenhagen’s department Resilient and Sustainable City Solutions within...

Open Innovation Call targeting air quality and urban heat island effect launched
In The News
EIT Climate-KIC cleantech start-up ZOLAR attracts 10 Million Euro Investment

The Berlin-based start-up Zolar raises a 10 million EUR...

EIT Climate-KIC cleantech start-up ZOLAR attracts 10 Million Euro Investment
In The News
Breaking down barriers to climate-finance: the City Finance Lab launches secon...

Competition for the five most innovative financing solutions for...

Breaking down barriers to climate-finance: the City Finance Lab launches second call for proposals
Opinion
Innovating in complexity: Systemic investing
Dominic Hofstetter Transformation Capital, EIT Climate-KIC
Innovating in complexity: Systemic investing
In The News
Climathon onboard ‘Sail to the COP’

On 2 October, 36 young climate change agents will...

Climathon onboard ‘Sail to the COP’
In The News
Research reveals surprising link between socio-economic indicators and sustain...

A new study by EIT Climate-KIC partner academic institutions...

Research reveals surprising link between socio-economic indicators and sustainability transition
Opinion
Transformation capital: A new investment logic for catalysing systems change
Dominic Hofstetter Transformation Capital, EIT Climate-KIC
Transformation capital: A new investment logic for catalysing systems change
Opinion
Innovating in complexity: From single-point solutions to directional systems innovation
Dominic Hofstetter TRANSFORMATION CAPITAL, EIT CLIMATE-KIC
Innovating in complexity: From single-point solutions to directional systems innovation
In The News
Four EIT Climate-KIC innovators nominated for annual EIT Awards

The European Institute of Innovation and Technology (EIT) has released...

Four EIT Climate-KIC innovators nominated for annual EIT Awards
In Detail
Report offers recommendations for development of agricultural impact tool

A new report supported by EIT Climate-KIC’s CSA Booster programme proposes technical, governance and business arrangements for the development of a new tool for...

Report offers recommendations for development of agricultural impact tool
In Detail
Food value chains strategy report offers recommendations based on systemic i...

A new report details the work of EIT Climate-KIC and its partner Metabolic, a consulting company using systems thinking to tackle major sustainability challenges,...

Food value chains strategy report offers recommendations based on systemic impact
In The News
EIT Climate-KIC supports digital roadmap for a circular economy

EIT Climate-KIC, along with several European stakeholders, is advocating...

EIT Climate-KIC supports digital roadmap for a circular economy
In The News
EIT Climate-KIC urges London to lead in turning climate emergency into action

Climate innovation agency EIT Climate-KIC welcomed today the first...

EIT Climate-KIC urges London to lead in turning climate emergency into action
Opinion
London Climate Action Week: Climate Innovation Insights
London Climate Action Week: Climate Innovation Insights
Opinion
How can we deliver a net-zero emissions UK?
Andy Kerr Director, UK & Ireland, EIT Climate-KIC
How can we deliver a net-zero emissions UK?
Opinion
Can we identify the tipping points for transformative climate action?
Susannah Fisher Strategic Research Lead, EIT Climate-KIC
Can we identify the tipping points for transformative climate action?
In The News
Study launched on decarbonising Europe’s heavy industries by 2050

Industry representatives, regional experts, academics and EU officials held...

Study launched on decarbonising Europe’s heavy industries by 2050
In our community
Interview with Yvon Slingenberg of DG Climate Action, European Commission
Interview with Yvon Slingenberg of DG Climate Action, European Commission
In Detail
Evaluating the benefits of improved cooking solutions: impact data in high r...

Gold Standard today released a research study by Vivid Economics that estimates the economic value of Gold Standard-certified project benefits related to climate, health,...

Evaluating the benefits of improved cooking solutions: impact data in high resolution
In The News
New EIT Climate-KIC supported report proposes basis for a future EU taxonomy i...

The European Commission has welcomed the publication of the...

New EIT Climate-KIC supported report proposes basis for a future EU taxonomy in legislation
In The News
WCEF 2019: The challenges and potentials of circular procurement in cities

Increasing population growth and urbanisation intensifies the pressure on...

WCEF 2019: The challenges and potentials of circular procurement in cities
In The News
First round of 15 winners of Reinventing Cities competition announced

C40 Cities and EIT Climate-KIC have announced 15 winners...

First round of 15 winners of Reinventing Cities competition announced